{"id":63664,"date":"2022-03-28T16:25:11","date_gmt":"2022-03-28T16:25:11","guid":{"rendered":"https:\/\/pr.asianetpakistan.com\/?p=89007"},"modified":"2022-03-28T16:25:11","modified_gmt":"2022-03-28T16:25:11","slug":"cryptocurrency-exchange-bybit-receives-in-principle-approval-to-conduct-virtual-asset-business-in-uae-and-move-global-headquarters-to-dubai","status":"publish","type":"post","link":"https:\/\/kuwaitnewsgazette.com\/cryptocurrency-exchange-bybit-receives-in-principle-approval-to-conduct-virtual-asset-business-in-uae-and-move-global-headquarters-to-dubai\/","title":{"rendered":"Cryptocurrency Exchange Bybit Receives In-Principle Approval to Conduct Virtual Asset Business in UAE and Move Global Headquarters to Dubai"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">UAE welcomes Bybit and heralds growth of \u2018next generation FDI\u2019<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Bybit is committed to a continuous constructive dialogue with regulators and legislators in the UAE and will play a key role in educating investors and wider public on digital assets<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><a href=\"https:\/\/pr.asianetpakistan.com\/wp-content\/uploads\/2022\/03\/image-4.jpg\"><img fetchpriority=\"high\" decoding=\"async\" class=\" wp-image-89009 alignright\" src=\"https:\/\/pr.asianetpakistan.com\/wp-content\/uploads\/2022\/03\/image-4-300x225.jpg\" alt=\"image (4)\" width=\"261\" height=\"196\" \/><\/a>DUBAI, UNITED ARAB EMIRATES &#8211;\u00a0<\/span><a href=\"https:\/\/www.media-outreach.com\/\"><span style=\"font-weight: 400;\">Media OutReach<\/span><\/a><span style=\"font-weight: 400;\">\u00a0&#8211; 28 March 2022 &#8211;<\/span><b>\u00a0<\/b><span style=\"font-weight: 400;\">Cryptocurrency exchange business <\/span><span style=\"font-weight: 400;\">Bybit has received in-principle approval to conduct a full spectrum of virtual assets business in Dubai, the firm announced today at a joint press conference with the UAE Ministry of Economy at the World Government Summit 2022.<\/span><span style=\"font-weight: 400;\"> Bybit also announced that it <\/span><span style=\"font-weight: 400;\">plans to set up its global headquarters in Dubai, offering a full suite of products and services globally, under the Emirate\u2019s \u201ctest-adapt-scale\u201d virtual assets market model.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Ben Zhou, co-founder and CEO of Bybit and H.E. Dr Thani Al Zeyoudi, UAE Minister of State for Foreign Trade and Minister in Charge of Talent Attraction and Retention at the World Government Summit 2022 in Dubai<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bybit stressed it was fully committed to supporting the regulatory efforts of the UAE government and is looking to share its in-depth industry knowledge, experience and insights with all stakeholders. Bybit has a key role to play in educating retail investors and the wider public in how to use virtual assets in a safe and responsible manner, helping the UAE manage risks within a framework for responsible growth.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cBybit\u2019s decision to open its global headquarters in Dubai is a milestone in our efforts\u00a0to position the UAE as a global digital hub,&#8221;\u00a0said H.E. Dr Thani Al Zeyoudi, UAE Minister of State for Foreign Trade and Minister in Charge of Talent Attraction and Retention. \u201cVirtual assets such as cryptocurrency and blockchain have changed\u00a0finance forever. To stay ahead in this fast-changing industry,\u00a0we are building a business-friendly ecosystem with robust regulations to attract, retain and enable high-growth companies \u2013 this is paying dividends in terms of the next generation FDI we are seeing coming in. This will create jobs and investment opportunities and consolidate our position as one of the world&#8217;s most attractive\u00a0places to live and work for those in virtual assets and web 3.0 industries.\u201d\u00a0 \u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cBybit looks forward to contributing to the virtual assets innovations of the Emirate\u2019s vibrant economy and having our global headquarters in Dubai. I believe we could help further stakeholders\u2019 understanding of this complex industry as the virtual assets space continues to rapidly mature. This in-principle approval is an extraordinary opportunity for Bybit to support the UAE and the wider region\u2019s ambition to become a global virtual assets technology hub,\u201d said Ben Zhou, co-founder and CEO of Bybit.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Led by a sophisticated management team with talent from fintech, IT, virtual assets, investment, and legal background, Bybit is one of the fastest growing virtual assets platforms with its peak daily trading volume of US$76 billion in May 2021. <\/span><span style=\"font-weight: 400;\">It is the third<\/span><span style=\"font-weight: 400;\"> most digitally visited virtual assets business in the world<\/span><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Bybit\u2019s new headquarters office is expected to commence operations in as early as April 2022 and it has started the process of hiring talent and transferring existing teams and operations to their new home in Dubai.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The UAE\u2019s new Dubai Virtual Asset Regulation Law was announced earlier this month. It aims to establish a regulatory framework for the sector designed to boost the industry providing robust guardrails that protect investors, facilitate cross-border transparency, and assure global market integrity.<\/span><\/p>\n<p><b><img decoding=\"async\" class=\"alignleft  wp-image-89008\" src=\"https:\/\/pr.asianetpakistan.com\/wp-content\/uploads\/2022\/03\/Bybit.jpg\" alt=\"Bybit\" width=\"187\" height=\"187\" \/>About Bybit<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Bybit is a <\/span><span style=\"font-weight: 400;\">virtual assets platform established in March 2018 that features an ultra-fast matching engine, excellent customer service and multilingual community support. The company provides innovative online spot and derivatives trading services, mining and staking products, an NFT marketplace as well as API support, to retail and institutional clients around the world, and strives to be the most reliable platform for the emerging virtual assets class. Bybit has recently become the Principal Team Partner of Formula One racing team, Oracle Red Bull Racing.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For more information please visit: <\/span><a href=\"https:\/\/go.bybit.com\/e\/HocplBrbLfb\"><span style=\"font-weight: 400;\">https:\/\/www.bybit.com\/<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">For updates, please follow Bybit&#8217;s social media platforms on\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/discord.com\/invite\/bybit\"><span style=\"font-weight: 400;\">https:\/\/discord.com\/invite\/bybit<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/a><a href=\"https:\/\/www.facebook.com\/Bybit\"><span style=\"font-weight: 400;\">https:\/\/www.facebook.com\/Bybit<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/a><a href=\"https:\/\/www.instagram.com\/bybit_official\/\"><span style=\"font-weight: 400;\">https:\/\/www.instagram.com\/bybit_official\/<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/a><a href=\"https:\/\/www.linkedin.com\/company\/bybitexchange\/\"><span style=\"font-weight: 400;\">https:\/\/www.linkedin.com\/company\/bybitexchange\/<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/a><a href=\"https:\/\/www.reddit.com\/r\/Bybit\/\"><span style=\"font-weight: 400;\">https:\/\/www.reddit.com\/r\/Bybit\/<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/a><a href=\"https:\/\/t.me\/BybitEnglish\"><span style=\"font-weight: 400;\">https:\/\/t.me\/BybitEnglish<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/a><a href=\"https:\/\/www.tiktok.com\/@bybit_official\"><span style=\"font-weight: 400;\">https:\/\/www.tiktok.com\/@bybit_official<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/a><a href=\"https:\/\/twitter.com\/Bybit_Official\"><span style=\"font-weight: 400;\">https:\/\/twitter.com\/Bybit_Official<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/a><a href=\"https:\/\/www.youtube.com\/c\/Bybit\"><span style=\"font-weight: 400;\">https:\/\/www.youtube.com\/c\/Bybit<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/a><span style=\"font-weight: 400;\">#Bybit<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For media inquiries, please contact:<\/span> <span style=\"font-weight: 400;\"><a href=\"mailto:media@bybit.com\">media@bybit.com<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>UAE welcomes Bybit and heralds growth of \u2018next generation FDI\u2019 Bybit is committed to a continuous constructive dialogue with regulators and legislators in the UAE and will play a key role in educating investors and wider public on digital assets DUBAI, UNITED ARAB EMIRATES \u2013\u00a0Media OutReach\u00a0\u2013 28 March 2022 \u2013\u00a0Cryptocurrency exchange business Bybit has received [\u2026]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - 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